 "Gilles Raymond")
News Republic, an app launched in 2008, curates stories from over 1,500 media sources every day. It has swept best news app awards across global forums over the past three years. In April, it entered India and by June it had 210,000 monthly active users. Vanita Kohli-Khandekar interviewed chief executive and founder Gilles Raymond on what digital was doing to the news business. Edited excerpts:
What is your take on the Indian market?
Our mission is to spark global conversations about issues that matter. And no global conversation is complete without India. There are five key reasons for being in India. One, India is a key global player. We wanted Indian content better represented in our global offering and global content to be more easily available to Indian readers - think of us as a two-way window.
Two, India's mobile-first mindset is perfectly matched with our mobile-only (phones, tablets, wearables) strategy. Three, the size of India's mobile population and the exponential growth rate. Four, the widespread availability and diversity of high-value, high-function devices. Five, the conviction that India is a news-hungry market.
Why news - it is a commodity business? Also, as mainstream declines, some of your best sources will dry up soon.
News is more than a commodity. It is the noblest content you can think of. News is a pillar of any democracy, a source of knowledge, and a way to understand the world. If the print industry is going through a painful metamorphosis, we call it mediamorphosis, news is doing well. People of all ages, gender, countries are reading more and more news. News is part of our DNA, culturally speaking. It is the way we access it that is changing.
Does aggregation ghettoise audiences eliminating experimentation from news consumption?
It is a sensitive point. Our mission is to guarantee readers have access to the news that counts. That is why we always offer headline news by default on the home page. To increase the size of the horizon, we provide readers additional links to the subject they are reading (through semantic technology). As an example, if you are reading an article about India, our tagging system will suggest you check news about Delhi, Mumbai, Narendra Modi, cricket.
What is your arrangement with publishers/news sources?
We only push non-truncated articles from (1,500) publishers we have signed deals with worldwide. We share advertising and subscription revenues. We promote the publisher's brand; quote the author of the article and the photo. We are very sensitive on respecting our partner brands and more specifically their intellectual property. We even have a de-duplication engine that prevents any article 'inspired' by another to be published.
What kind of patterns do you notice on consumption?
The first thing you notice is the level of consumption. On an average, a News Republic reader worldwide is reading almost 200 pages per month. In some countries, it goes close to the 400 pages per month. It shows the amazing appetite customers have for news, and this is only an average. The key topics are similar worldwide, with an unexpectedly high visibility of news about people and buzz.
How big is News Republic on traffic, stickiness and which are the larger markets it is present in?
We passed a billion visits last month. An average session on an android smartphone is almost nine minutes and five on an iPhone. Revenue wise, the number one revenue stream is Europe. The core of our revenue is advertising. We are present in 11 countries including India, China, Russia, US and will continue to expand. Our 12 million users are well balanced among Europe, America and Asia.
Who are your investors? How much investment have you got and when do you expect to break even?
We raised $10.3 million from Intel Capital, Xange Private Equity and Creathor Venture. The immediate focus is not on breaking even. That is more of a two-year horizon. The immediate focus is on rolling out in new countries and on new devices. We want to offer the ultimate news service.
